11am update - the Yellen continues

Whilst Yellen is answering the often laughably benign questions from the US finance committee, equities are struggling, having broken the second marginally higher low of sp'2070. USD remains -1.4% in the DXY 98.50s. That is helping inspire commodities, Gold +$4, with Oil +0.6%


sp'daily5

Trans, daily

Summary

*the 11am hour.. a typical turn time. Indexes could easily turn positive into the afternoon.
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Far more notable than the sp'500 - the loss of 8K for the Transports. It is a key trend break from the Aug' lows. I suppose it could just be a brief tease to the bears... but really... it is an alarm bell of some degree.

Despite the morning weakness... certainly lower than I expected... my bullish outlook into end year is unchanged.
 
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Meanwhile... here in London city....

A rather nice end to the day.

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time to cook !
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11.16am... we're seeing a clear turn upward....  short-stop cascade... bears are ON the run!

indexes turning positive.